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WOODLAND HILLS, CALIF., June 11, 2012 — Jones Lang LaSalle announced today that LNR Property LLC has completed a new lease with Patriot National Insurance Group for 14,557 square feet of office space at LNR Warner Center IV, a two-building, 509,923-square-foot Class A office complex located at 21215 and 21255 Burbank Blvd. in Woodland Hills, Calif. Patriot National Insurance Group will use the space for its regional headquarters.
Jones Lang LaSalle Los Angeles' Dan Sanchez represented the landlord, LNR, which developed the building in 2008. Sanchez and Jones Lang LaSalle's Jim Cahlin represented the tenant.
“Patriot National Insurance Group was focused on relocating to a high-quality campus environment which featured abundant amenities, freeway access and room to grow,” said Sanchez. "LNR Warner Center IV had everything they needed and more.”
Cahlin added, “The West Valley office market continues to show small signs of improvement with 100,000 square feet of positive absorption in the first quarter of this year."
Located one block north of the Ventura (101) Freeway, LNR Warner Center IV has large, efficient floor plates and offers the most efficient buildings in the market. It also features unmatched visibility and convenient access to a deep and highly skilled labor pool, numerous dining and entertainment venues and an outstanding array of amenities, both on-site and within the immediate vicinity. More information can be found at www.lnrwarnercenter.com.
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About Patriot National Insurance GroupPatriot National Insurance Group is an insurance holding company focused on workers’ compensation insurance. Patriot National Insurance Group has two operating subsidiaries: Guarantee Insurance Company and Patriot Underwriters, Inc. For additional information, please visit www.pnigroup.com.
About LNRLNR Property LLC is a market leader in commercial real estate finance, management and development, with established expertise and demonstrated capability in the investment, management and servicing of commercial real estate assets, secured real estate loans and loan pools. LNR is headquartered in Miami Beach, Florida. LNR's Commercial Property Group is focused on creating value by acquiring, developing, repositioning, managing and selling interests in commercial and multi-family real estate, including land. LNR's Real Estate Financing and Servicing Group focuses on LNR's loan and loan securities businesses and is one of the nation's leading buyers of non-investment grade and unrated commercial mortgage backed securities ("CMBS"), and is the leading special servicer in the U.S. For more information on the Commercial Property Group, please visit us at www.LNRcpg.com or contact us at (305) 695-5426.
About Jones Lang LaSalleJones Lang LaSalle (NYSE: JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2011 global revenue of $3.6 billion, Jones Lang LaSalle serves clients in 70 countries from more than 1,000 locations worldwide, including 200 corporate offices. The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 2.1 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with $47.2 billion of assets under management. For further information, please visit www.joneslanglasalle.com.
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